Escalating conflict in the Middle East, including US strikes on Iran and concerns over the Strait of Hormuz, has pushed Brent crude futures up 2.5% to over $90 per barrel for the first time in a month. This geopolitical tension is weighing on Asian markets, with Indian shares expected to open slightly lower despite strong domestic earnings. The rise in oil prices creates significant concern for import-dependent economies like India. For Pakistan, sustained high crude oil prices could increase import bills, potentially impacting USD/PKR stability and local inflation, which may influence gold demand.
بحوالہ / Source: www.brecorder.com